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    Question

    Mr. P invested Rs. β€˜2x’ in scheme β€˜A’ offering

    simple interest of 20% p.a. and reinvested the interest earned from scheme β€˜A’ at the end of 4 years in scheme β€˜B’ offering compound interest of 20% p.a. compounded annually. If total amount received from scheme β€˜B’ after 2 years is Rs. 1008, then find the value of β€˜8x’.
    A 3000 Correct Answer Incorrect Answer
    B 3200 Correct Answer Incorrect Answer
    C 3500 Correct Answer Incorrect Answer
    D 3600 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to question; 1.44 Γ— {0.2 Γ— 4 Γ— 2x} = 1008 Or, {0.20 Γ— 4 Γ— 2x} = 700 Or, x = 437.5 So, 8x = 8 Γ— 437.5 = 3500

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